NEW YORK (AP) — Stocks have turned mixed in afternoon trading on Wall Street. Energy stocks are falling with oil prices. Oil slumped to multi-year lows after Saudi Arabia discounted supplies to the U.S. The move is boosting airlines, though, because the cost of fuel is their single largest operating cost.
LONDON (AP) — The new head of Britain’s electronic eavesdropping agency says U.S.-based social media have become “command-and-control networks” for terrorists and criminals. Robert Hannigan says Islamic State extremists use messaging services like Facebook, Twitter and WhatsApp to reach their peers. He says spy agencies need to have greater support from the U.S. technology companies in order to fight militants and those who host material about violent extremism and child exploitation.
THE HAGUE, Netherlands (AP) — The Dutch government has approved the extradition to the United States of a Russian citizen accused of participating in a hacking ring that stole at least 160 million credit and debit card numbers. Vladimir Drinkman is one of four Russians and a Ukrainian indicted last year in New Jersey for the hacking, which has been described as the largest data breach ever prosecuted in the U.S. It resulted in losses of hundreds of millions of dollars.
NEW YORK (AP) — JPMorgan Chase says the Justice Department has opened a criminal investigation into its foreign exchange business. The announcement by the nation’s largest bank follows a similar disclosure Thursday by Citigroup. Banks in the U.S. and abroad are facing allegations that they manipulated foreign-exchange rates. Besides the Justice Department, JPMorgan says civil enforcement authorities and foreign regulators are also investigating its foreign exchange business.
SAN FRANCISCO (AP) — A San Francisco Bay Area woman has been sentenced to more than 16 years in prison for running what prosecutors say was a sham university that served as a front for an immigration scam. Susan Xiao-Ping Su, founder and president of the phony Tri-Valley University in Pleasanton, has also been ordered to forfeit $5.6 million and pay more than $900,000 in restitution. She was convicted in March of visa fraud and other charges.
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